India's star shines bright: Lagarde

India's star shines bright with the promise of more reforms to come, IMF chief Christine Lagarde said on Saturday as she applauded the ongoing government initiatives such as Make in India and Digital India. “India stands at a crucial moment in its history with an unprecedented opportunity for transformation,“ Lagarde said in her inaugural address at the Advancing Asia: Investing for the future conference.
She said the festival of Holi presents an opportunity to celebrate the success of India and Asia. “In about ten days, India, Nepal and many other countries will be celebrating the festival of Holi (festival of color), which heralds the coming of spring. I am not suggesting that we cover each other with color or spray water as is customary (we will leave that to the children). But I do think today we should celebrate India's achievements--and Asia's achievements,“ she said. Lagarde said enhancing the efficiency of product markets, encouraging private investment, and improving infrastructure are the policy choices that India must explore.
Quoting Mahatma Gandhi, Lagarde said the region's dynamism presents a historic opportunity to invest now in the future and to advance Asia. “Doing so will not only put Asia on the path to sustained growth, but also strengthen its role in the global economy , as a key contributor and as a leader for the 21st century ,“ she said.
Lagarde said Asia's rapid integration into the world economy has been one of the most striking global developments of the last generation.

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